Canada

Rock failure halts production at Goldex mine; Agnico-Eagle shares plummet

Agnico-Eagle Mines (TSE:AEM) had suspended mining and gold production at its Goldex mine in Val d’Or, Quebec, due to unstable ground and water inflow.

“A weak volcanic rock unit in the hanging wall of the Goldex deposit has failed. This rock failure is thought to extend between the top of the deposit and surface. As a result, this structure has allowed ground water to flow into the mine. This water flow has likely contributed to further weakening and movement of the rock mass,” Agnico-Eagle said in a statement.

As a result of the problem, Agnico said it will write off its investment in Goldex, resulting in a $260 million charge in the third quarter results.

The news caused the Toronto-based company’s shares to plummet around 19% near the close of trading on Wednesday.

New Gold goes all-in at Blackwater

Vancouver – New Gold (NGD-T, NGD-N) has put pen to paper with two B.C.-focused junior gold explorers holding land near the company's most recent acquisition, the Blackwater gold-silver project, located 150 km southwest of Prince George.

Iron mine would have big impact on Baffin region, says QIA

The Qikiqtani Inuit Association says Baffinand's draft environmental impact statement is "flawed" as it found no significant negative impacts from the Mary River project.

Oilsands Quest stock lives to trade another day

Oilsands Quest was little changed at 24.5c on Tuesday after announcing it had entered into a 2-year $12 million securities purchase agreement with Socius Capital. Oilsands Quest says the financing ensures it’s near-term liquidity while it attempts to sell off assets and advance its flagship Axe Lake pilot project.

The deal throws a lifeline to the company under threat of delisting from AMEX after a $60 million rights offer flopped in September and a year-long quest to find a buyer or strategic partner came up empty handed. Investors in the firm have been on a bumpy ride. The stock is down some 70% from its January highs of 64c and gained 63% in a single day after Saskatchewan granted the company 15-year oil sands leases, the first in the province. But recent investors can feel smug about the fact that they did not buy into the junior during the frothy 2006 market – the counter hit a peak of $7.76 in March that year.

Allana Potash drilling intersects significant potash of 40% KCL over 2.6 metres in hole 28

Allana Potash Corp. (TSX:AAA)(OTCQX:ALLRF) (“Allana” or the “Company”) is pleased to announce that it has intersected three zones of strong potash mineralization in Hole DK-11-28 (“Hole 28″). Hole 28 is located in the northwestern portion of the concession block and was targeted to test potash mineralization west of Hole 15. Hole 28 intersected a strong Sylvinite Zone at a depth of 198.8 metres which yielded 40.27% KCl over 3.56 metres. A robust Kainitite Zone was also intersected deeper in the hole at a depth of 266.43 metres and returned 21.98 % KCl over 8.39 metres.

Wallbridge Mining commissions the Broken Hammer feasibility study

Wallbridge Mining Company Limited (TSX:WM, FWB: WC7) (“Wallbridge” or the “Company”) is pleased to announce that it has retained the services of Wardrop, A Tetra Tech Company (“Tetra Tech”) and AMEC, two large multi-disciplinary engineering companies to complete the required studies for the development of its Broken Hammer deposit in Sudbury, Ontario. Tetra Tech will complete the Pre-Feasibility study (“PFS”) and the subsequent Feasibility Study (“FS”). AMEC will complete the Environmental and permitting requirements.

“The successful delivery of the bulk sample and its expected results have brought this project to the next phases of development namely Pre-Feasibility, Feasibility, and permitting.”

Oilsands expansion jeopardized by absence of climate plan, ambassador told

Opposition to oilsands expansion in “Canada’s Texas” and a controversial U.S. pipeline expansion project is growing because of a failure to crack down on pollution that traps heat in the atmosphere and causes climate change, Canada’s ambassador to the U.S., …

Jayden Reports 5.27 g/t Gold Over 11.8 Meters and 8.11 g/t Gold Over 5.1 Meters, Including 22.79 g/t Over 1.6 Meters in Hole SC11-386

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Oct. 18, 2011) – Jayden Resources Inc. (“Jayden” or the “Company”) (TSX:JDN) is pleased to announce new assay results from the development drilling program at its Silver Coin Gold Project near Ste…

Barkerville Gold Mines intercepts 21.5 meters (70.5 feet) of 9.97 g/T (0.291 oz/t) gold including 2.8 meters (9.2 feet) of 52.0 g/T (1.516 oz/t) gold on Cow Mountain

Further to the news releases on the high grade VG-cosalite-quartz-pyrite zones discovered by the Company on Cow Mt. reported by the company respectively on June 27, July 26 and September 13, Barkerville Gold Mines Ltd. (TSX VENTURE:BGM)(FRANKFURT:IWUB) (the “Company”) reports the more significant intercepts of drill results conducted on Cow Mt. recently.

Lydia Diamond reports from the courts

Further to its press release dated December 23, 2009, Lydia Diamond Exploration of Canada Ltd. (“Lydia Diamond”) announces that a decision has been rendered in the previously announced dissent proceedings, and that a settlement has been approved by the Ontario Superior Court of Justice (the “Court”) for the satisfaction of the dissent award.